12 Jan 2026 | 5 Mins Read
JM Financial considers Meesho a flagbearer in Indian e-commerce
Flipitmoney
JM Financial initiated coverage on Meesho with a 'Reduce' call, predicting a 1.8% downside to Rs 170 over 12 months due to stretched valuations. It views Meesho as a "flagbearer" of e-commerce democratisation, but notes that while the business is "differentiated with huge headroom for growth," valuations are stretched and new buyers should be wary of significant supply post 6-month lock-in expiry.